Real CFP Exam | Personal Risk Management and Insurance Planning (I)

Please answer questions 1-3 according to the following information. Mr. Wang is 40 years old, with an annual after tax income of 180000 yuan and an annual personal consumption of 80000 yuan. Her wife, Ms. Li, is 35 years old, with an annual income of 62500 yuan after tax and an annual personal consumption of 37500 yuan. In addition to repaying the house loan, other necessary expenditures of the family are 25000 yuan per year. Mr. Wang has a son, 10 years old, who is in primary school. The family assets of Mr. and Mrs. Wang have 200000 yuan of deposits and a house, which is worth 3 million yuan, and the balance of the house loan is 700000 yuan.

Please answer questions 1-3 according to the following information. Mr. Wang is 40 years old, with an annual after tax income of 180000 yuan and an annual personal consumption of 80000 yuan. Her wife, Ms. Li, is 35 years old, with an annual income of 62500 yuan after tax and an annual personal consumption of 37500 yuan. In addition to repaying the house loan, other necessary expenditures of the family are 25000 yuan per year. Mr. Wang has a son, 10 years old, who is in primary school. The family assets of Mr. and Mrs. Wang have 200000 yuan of deposits and a house, which is worth 3 million yuan, and the balance of the house loan is 700000 yuan. The risk assurance objectives of Mr. Wang's family are:

1. Reserve emergency fund of 100000 yuan;

2. If one of Mr. Wang and his wife suffers misfortune, the cost of dying and funeral is 80000 yuan;

3. If one of Mr. Wang and his wife suffers misfortune, the survivors can maintain their current living standards until retirement;

4. Mr. Wang retires at the age of 60 and Ms. Li retires at the age of 55. Both hope to have a pension fund of 800000 yuan ready at that time;

5. At the age of 20, his son can have an education fund of 1 million yuan to guarantee the cost of going abroad for further study. Assuming that the annual growth rate of income is 7%, the annual inflation rate is 4%, and the discount rate is 5%, both income and expenditure occur at the beginning of the period. Mr. Wang and his wife both bear 100% of the family debt.

1. According to the life value method, Mr. Wang needs about () life insurance. (The answer is the nearest value)

A. 2.64 million yuan

B. 2.87 million yuan

C. 3.64 million yuan

D. 3.29 million yuan

Answer: B

2. In order to ensure the realization of various objectives without cash gap, according to the Survivors' Demand Law, Mr. Wang's current life insurance demand is (). (The answer is the nearest value)

A. 1.59 million yuan

B. 1.44 million yuan

C. 1.23 million yuan

D. 880000 yuan

Answer: C

3. From the perspective of cash demand, Ms. Li's current life insurance demand is (). (The answer is the nearest value)

A. 0 yuan

B. 700000 yuan

C. 880000 yuan

D. 680000 yuan

Answer: C